‘THE CITY’ of the Seven Towers: Borough bids to boost financial technology sector

MID & East Antrim Borough Council wants the area to have a slice of the financial technology sector.

‘The City’ in London and Wall Street in New York may be two of the world’s best-known financial districts but now Mid Antrim Council wants a share.

A council report, which was tabled at a council meeting this week, said: ‘Research in relation to Fintech (financial technology) and Technology sectors in Northern Ireland is currently being undertaken by Invest NI and Fintech NI.

 

‘The City’ financial district in London. Could Ballymena have its own version? Picture: Google Maps.

 

‘The Chief Executive (Anne Donaghy) is being interviewed as part of this research as this is a key target sector for Mid and East Antrim and we wish to develop our FinTech offering through strategic engagement with key stakeholders and industry bodies.

‘The findings from this research will be fed into a UK Government Independent review into the financial technology industry,’ the report said.

‘The City’ in London. Picture: Google Maps.

 

The Council has been eyeing the hi-tech sector with the moves more concentrated since Ballymena lost traditional industries like Michelin and Gallaher.

The Council is involved in re-developing the former St Patrick’s Barracks site in Ballymena and part of the plans there are for an i4c Innovation Centre.

The Council previously said the i4c building will comprise a mix of incubation labs and workshops for small businesses, premium innovation office accommodation including co-working space for rent, and the iLAB industry makerspace – a focal point for small business research and development and innovation activity in the Borough.

The Stock Exchange in New York’s Wall Street financial district. Picture: Google Maps

 

The Council also said i4c will provide support for key industrial sectors in the Borough including advanced manufacturing, agri-foods and the emerging hydrogen clean energy sector.

Financial technology (abbreviated fintech or FinTech) is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services.

It involves using technology to improve activities in finance, for example smartphones for mobile banking, investing, borrowing services.

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